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cliff spending and revenue raised in the next three weeks, and, yes, that's at the end of the month. they'll get through that, but, again, you want to have leverage when you have that conversation. that leverage is going to, i think, hinge off of what you were saying, and i think you're right. boehner has probably the better hand to play here given that really there's not a strong hand, but it's a better hand than what he otherwise would have in terms of negotiations. if he is just allowed get in the room and negotiate the deal because he knows he has all these other, you know, arrows in his quiver that he can use. >> i just -- i think it's hopeful that they went -- that he went to the white house yesterday and almost kind of hopeful that at least everybody is agreeing not to say anything, as opposed to leaking bad news. really quickly, jonathan, the president is going to michigan, and he will be -- well, he is there en route now. the right to work law in michigan could be signed as early, i believe, finalized as early as tomorrow. what is the president owe labor unions at this point
cliff spending and revenue raised in the next three weeks, and, yes, that's at the end of the month. they'll get through that, but, again, you want to have leverage when you have that conversation. that leverage is going to, i think, hinge off of what you were saying, and i think you're right. boehner has probably the better hand to play here given that really there's not a strong hand, but it's a better hand than what he otherwise would have in terms of negotiations. if he is just allowed get...
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why aren't you for going over the fiscal cliff? i heard you yesterday saying it would be catastrophic, but let me read you estimates. we go over the cliff, we suddenly have -- we're basically taking in as much money as we're spending over a five-year period. yes, the economy is in bad shape in 2013 but by 2018 we'd have a debt to gdp ratio of 1.1%. isn't this simpson-bowles on steroids? >> you know, it's no different than what happened over in the uk, in my opinion. they had a similar proposal to what we proposed with dollar revenue and $3 worth of spending cuts. they had a cost benefit analysis they did on all the spending programs, they raised the retirement age. they slowed the rate of growth of health care and they tried to get to balance in four or five years. and we thought at the time the debt was too much too quick that amount of austerity would really, you know, lead to a recession. that's why we had as our number one priority in our program that we didn't want to do anything to disrupt a very fragile economic recovery, so
why aren't you for going over the fiscal cliff? i heard you yesterday saying it would be catastrophic, but let me read you estimates. we go over the cliff, we suddenly have -- we're basically taking in as much money as we're spending over a five-year period. yes, the economy is in bad shape in 2013 but by 2018 we'd have a debt to gdp ratio of 1.1%. isn't this simpson-bowles on steroids? >> you know, it's no different than what happened over in the uk, in my opinion. they had a similar...
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. >>> the fiscal cliff fiasco. the obama plan, the boehner plan, will either alter america's rising rate of spending or lessen the size our bloatedgornment? the answer in tonight's chalk talk. >>is the housing market really recovering? $17 trillion is riding on the answer. the president and ceo o citi mortgage joins us next. [beep] [indistinct chatter] [kids talking at once] [speaking foreign language] [heart beaeating] [heartbeat continues] [faint singing] [heartbeat, music playi loude ♪ i'm feeling better since you knome ♪ ♪ i was a lonely soul, but that's the old me... ♪ announcer: thisong was created with heartbeats of children ineed. find out how it can help frontline e health workers bring hope to millions of children at everybeatmatters.org. lou: new rorts show foreign investment is heingthe housg market slowly recover. citimortgage president and ceo sanjiv das joins us here in just moments to discuss thatnd much more when it comesto housing. in the money lineonight, investors waiting cautiously to s
. >>> the fiscal cliff fiasco. the obama plan, the boehner plan, will either alter america's rising rate of spending or lessen the size our bloatedgornment? the answer in tonight's chalk talk. >>is the housing market really recovering? $17 trillion is riding on the answer. the president and ceo o citi mortgage joins us next. [beep] [indistinct chatter] [kids talking at once] [speaking foreign language] [heart beaeating] [heartbeat continues] [faint singing] [heartbeat, music...
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go over the fiscal cliff. take $1.2 trillion out of spending and tax hikes, stops the spending. mandatory spending cuts across the board. you know what? the only way to do it. only way to do it. everything else is chump change. >> dana: how do you deal with deficit reduction if you raise the taxes on a portion of the country that will pay for the government for 8.5 days? >> bob: you couple that with the social security adjustments and medicare. 'canes that is not what geithner put on the table. >> dana: that is going to be on -- >> bob: that is what is going to be on the table. >> dana: republicans held their feet on the fire. >> bob: whatever it took. >> greg: i used to think howard dean was a proctologist because he had his head up his butt but he pulled the curtain back. it's never about raising taxes on the rich because you run out of rich. >> andrea: right. >> greg: that is the point. >> eric: raise tax on everyone who pays taxes or everyone? everyone means the poor and 47% will start paying. >> greg: if you raise taxes up 2%, eight days of government? >> andrea: the dirty
go over the fiscal cliff. take $1.2 trillion out of spending and tax hikes, stops the spending. mandatory spending cuts across the board. you know what? the only way to do it. only way to do it. everything else is chump change. >> dana: how do you deal with deficit reduction if you raise the taxes on a portion of the country that will pay for the government for 8.5 days? >> bob: you couple that with the social security adjustments and medicare. 'canes that is not what geithner put...
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. >>> the fiscal cliff fiasco. the obama plan, the boehner plan, will either alter america's rising rate of spending or lessen the size of our bloated government? the answer in tonight's chalk talk. >>> is the housing market really recovering? $17 trillion is riding on the answer. the president and ceo of citi mortgage joins us next. twins. i dn't see them coming. i have obligations. cute obligation b obligatio. i need to rethink the core of my portfolio. what i really need is eep. introducing the ishares core, budinglos for the heart of your portfolio. find out why 9 out of 10 ilarge professisional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectis, risks, charges and expenses. ad and consider itarefully bere investing. ri includes possible ss of principal. lou: new reports show foreign investment is helping the housing market slowly recover. citimortgage president and ceo sanjiv das joins us here in just moments to discuss that and
. >>> the fiscal cliff fiasco. the obama plan, the boehner plan, will either alter america's rising rate of spending or lessen the size of our bloated government? the answer in tonight's chalk talk. >>> is the housing market really recovering? $17 trillion is riding on the answer. the president and ceo of citi mortgage joins us next. twins. i dn't see them coming. i have obligations. cute obligation b obligatio. i need to rethink the core of my portfolio. what i really need is...
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i don't want to talk about the fiscal cliff and you don't want to hear about it. for the next 20 days, all pundit are contractually obligated to talk budgetary policy and you the viewer are obligated to listen. check your cable contract. (laughter) it's right below the part where come cast gets your kidneys. they'll be there to pick them up tomorrow between the hours of 9:00 a.m. and 6:00 p.m. wear something loose. (laughter) if the parties here cannot agree to a budget deal by january 1, automatic spending cuts will kick in and plunge america into a second recession things are not looking too good. >> in washington, a fly in the ointment. debt deal negotiations have stalled. >> the fiscal cliff stalemate remains. >> the standoff continues. there isn't a lot of reason for hope. >> democrats and republicans are blaming each other for the stalled negotiations. >> who's going to blink sglirs what's going to blink first. >> the white house is daring republicans literally to blink. (laughter) >> stephen: obama is daring republicans literally to blink. well, the joke's
i don't want to talk about the fiscal cliff and you don't want to hear about it. for the next 20 days, all pundit are contractually obligated to talk budgetary policy and you the viewer are obligated to listen. check your cable contract. (laughter) it's right below the part where come cast gets your kidneys. they'll be there to pick them up tomorrow between the hours of 9:00 a.m. and 6:00 p.m. wear something loose. (laughter) if the parties here cannot agree to a budget deal by january 1,...
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when you think about fiscal cliff, the bush tax cuts have collapsed, sequestration cuts spending, and then there's a trillion dollar tax increase that obama has over the next decade to pay for obamacare. interestingly, he decided to delay those taxes until after he was reelected. but they start kicking in in january. very painful and hit the middle class hard. the reason not to raise taxes is to have a spending problem. we spent too much money. raising taxes is not part of spending less. it's not part of a compromise or anything. it is what politicians do instead of. reforming of - instead of reforming government. europeans eventually put in energy taxes and that is what obama is doing. he spent his five trillion dollars in the first term and wants to take us a trillion dollars more in debt over the next decade. there's no way to raise taxes to pay for that. we have to rein in spending. raising taxes is what politicians do when they don't have the courage to reform government. host: you can read this new press release on the internet. canada and middle-class families face high medical
when you think about fiscal cliff, the bush tax cuts have collapsed, sequestration cuts spending, and then there's a trillion dollar tax increase that obama has over the next decade to pay for obamacare. interestingly, he decided to delay those taxes until after he was reelected. but they start kicking in in january. very painful and hit the middle class hard. the reason not to raise taxes is to have a spending problem. we spent too much money. raising taxes is not part of spending less. it's...
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if he goes off to hawaii and spends three weeks there, and no deal happens and the fiscal cliff hits and we've got the largest tax increase in history and the markets plummet and he's sitting over there splashing in the surf, i don't think he can do it. >> i wonder what other nations think about us? this is, you know, is it a terrible problem we are going through right now, but we look like we can't handle our own business. we can't talk to each other, we can't figure out our own economics, and i can't think what kind of morale authority do we have in the world when we look so pathetic, so pathetic in terms of how we handle things and the fact that we don't? >> the problem with the american people is today they are -- greta, they are as deeply divided and polarized as we have almost ever been. look what boehner is could go right now in making a deal. he's violates his fundamental principles. he's violatings a commitment he made to the american people. he's doing something that he thinks will hurt the american economy, $800 million of tax on job creators, he's splitting his party, he'
if he goes off to hawaii and spends three weeks there, and no deal happens and the fiscal cliff hits and we've got the largest tax increase in history and the markets plummet and he's sitting over there splashing in the surf, i don't think he can do it. >> i wonder what other nations think about us? this is, you know, is it a terrible problem we are going through right now, but we look like we can't handle our own business. we can't talk to each other, we can't figure out our own...
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. >> if nothing is done by the end of the year to avoid the fiscal cliff, automatic federal spending cuts could impact the foot we eat. emily schmidt explains. >> preparing for holidays is a reminder of something else around the corner. >> i just can't imagine funding being cut at this point. it was be tragic. >> she is worried budget cuts would hurt food safety inspection. that's mattered to her since her twins her born in 1999. she and her babies got listeria poisoning. contaminated food sickens about 48 million a year. 3,000 die. so the fda and usda are charged with protecting the simply. an 8.2 budget cut translates to $157 million. there's no word exactly what cuts would mean to staffing. >> both fda and usda are stretched pretty thin when it comes to the activities they do. they need increased resources and not fewer. >> agencies always say they're stretched. >> dean clancy is with freedom works and says the cuts leave nothing to fear. >> arguing that getting spending under control endangers public health and safety is a really irresponsible scare tactic. especially when you re
. >> if nothing is done by the end of the year to avoid the fiscal cliff, automatic federal spending cuts could impact the foot we eat. emily schmidt explains. >> preparing for holidays is a reminder of something else around the corner. >> i just can't imagine funding being cut at this point. it was be tragic. >> she is worried budget cuts would hurt food safety inspection. that's mattered to her since her twins her born in 1999. she and her babies got listeria...
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and much of that is attributable to fears about the fiscal cliff. all bets could be off the table if we go off the fiscal cliff. >> sure if you go over the cliff. and you'll still have some tax hikes. we have consumer spending around 2% in real terms in line with income. we don't think the whole tax hikes will go into effect early next year. so yeah if you go over the cliff, lots of things consumers, businesses, you name it. but i don't think we're going to go over the cliff. at least we're noi not going to dive over. and i think without that, the dividend income and net consumer spending, consumer confidence number watch what people do. not what they say. other measures of confidence have been doing much better and that'll rebound. >> if we just back up for a second, steven, we talk about the fiscal cliff every day. those who are in the market talk about the fiscal cliff every day. does the average consumer out there moms and pops, do they talk about the fiscal cliff? does it factor into their spending efforts? >> not really. that's a great questio
and much of that is attributable to fears about the fiscal cliff. all bets could be off the table if we go off the fiscal cliff. >> sure if you go over the cliff. and you'll still have some tax hikes. we have consumer spending around 2% in real terms in line with income. we don't think the whole tax hikes will go into effect early next year. so yeah if you go over the cliff, lots of things consumers, businesses, you name it. but i don't think we're going to go over the cliff. at least...
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cliff. do you think we will get a deal before the end of the year? >> i have absolutely no idea. there is low hanging fruit. strongly both sides do not want to see the other 30 some million people as married under it. there could be so low hanging fruit. they coulwe could get some sortf compromise on the bush tax cuts, but there is a two-stage process and we are only focused on the first stage representing the deadline just getting some sort of a deal. the extent we get one, there is a breath of relief and then we start to look at the details of whatever the deal is in the implications for the economy for the market and corporate earnings and all those things. i think we're not quite at that stage yet. tracy: we have a meeting on wednesday, we will hear results of q4, more stimulus, what do you expect to hear? >> operation twist, the fed selling some of the dated securities to buy longer dated securities to bring long-term interest rates down expires at the year-end. they want to bring more
cliff. do you think we will get a deal before the end of the year? >> i have absolutely no idea. there is low hanging fruit. strongly both sides do not want to see the other 30 some million people as married under it. there could be so low hanging fruit. they coulwe could get some sortf compromise on the bush tax cuts, but there is a two-stage process and we are only focused on the first stage representing the deadline just getting some sort of a deal. the extent we get one, there is a...
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they say obviously the end of the year there's a pressure point with the fiscal cliff. they see the next pressure point being february with the debt limit to try to get some serious spending cuts and go after the big three entitlements to get what they want which is to lower deficit through spending cuts. >> let's go to mcconnell. he's not a popular guy anywhere. least of all right here. but let me ask you this. is he stupid? he's not a stupid man. why would he say he would stop the government, have us risk another lowered credit rating in order to cut programs which are essential to so many people like social security and medicare? >> to throw the debt ceiling thing out there might be popular among some republican office holders in the city. i don't think it's really popular beyond that. what he said is a complete misrepresentation because after all raising the debt ceiling is to pay for what congress has already authorized. pay the bills that congress has already incurred. i don't think this is a fight you really want to have with president obama. he -- as a point of
they say obviously the end of the year there's a pressure point with the fiscal cliff. they see the next pressure point being february with the debt limit to try to get some serious spending cuts and go after the big three entitlements to get what they want which is to lower deficit through spending cuts. >> let's go to mcconnell. he's not a popular guy anywhere. least of all right here. but let me ask you this. is he stupid? he's not a stupid man. why would he say he would stop the...
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larry, we are going to avoid the fiscal cliff resection. the white house is acting with impunity right now. and the white house is so far said look, we want to continue talking about one quarter of the president's own architecture. the president said there was a three to one ratio between savings and cuts and revenue. but they have been silent on this. >> little bit of breaking news. >> wow, the studio is shaking. mr. bhoener is at $800 million. no new information on then ti e ti tiltment. i'm suggesting. it is a game of chicken. neither party can afford this kind of recession. after what we've been through we can't take it. if that meanstending the tax cuts so be it. let me accept your premise. but i have to pile on more. something that is worse is a debt crisis. if you have a white house that is committed from going from $16 trillion in debt which is where the obama administration would lead us. what do you do with that knowledge? what if you come to the view that the president has created in the state of illinois which is a basket case t
larry, we are going to avoid the fiscal cliff resection. the white house is acting with impunity right now. and the white house is so far said look, we want to continue talking about one quarter of the president's own architecture. the president said there was a three to one ratio between savings and cuts and revenue. but they have been silent on this. >> little bit of breaking news. >> wow, the studio is shaking. mr. bhoener is at $800 million. no new information on then ti e ti...
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. >> sean: coming up, the fiscal cliff. we have an update what remains in washington, but now even bill clinton's former chief of staff admits the president's plan won't work, and he's calling for spending cuts. i'll get reaction from rudy giuliani as we continue. remember the two deejays in australia. they speak out tonight for the first time as they explained what happened with that hoax what happened with that hoax suicide straight ahead. [ male announcer ] you are a business pro. monarch of marketing analysis. with the ability to improve roi through seo and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. i'm going b-i-g. [ male announcer ] good choice business pro. good choice. go national. go like a pro. ♪ [ male announcer ] this is karen and jeremiah. they don't know it yet, but they're gonna fall in love, get married, have a couple of kids, children laughing ] move to the country, d live a long,
. >> sean: coming up, the fiscal cliff. we have an update what remains in washington, but now even bill clinton's former chief of staff admits the president's plan won't work, and he's calling for spending cuts. i'll get reaction from rudy giuliani as we continue. remember the two deejays in australia. they speak out tonight for the first time as they explained what happened with that hoax what happened with that hoax suicide straight ahead. [ male announcer ] you are a business pro....
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look, you are talking about the fiscal cliff, 25 days away until these tax hikes and federal spending cuts go into effect. you are looking at wall street. it is not making any big moves because of the uncertainty of what is going to happen with this. how long are politicians going to continue dragging their feet. and it is not just wall street. you know, it is beginning to eat into consumer confidence. we just got this index, university of michigan consumer confidence index. just a short time ago, this morning. it showed that consumer confidence plunged and in the first week of its month because americans don't know what to expect taxwise. that's a bad sign for retailers at the most important time of the year. the holidays. because guess what, if consumers aren't feeling confident, they are no going to spend. that domino effect that hit retailers, many of these retailers depend on the holiday sales to push them into a profit important the year. this is what's weighing out there in -- you know, for consumers, yes. fiscal cliff definitely weighing on things. despite the fact that the jo
look, you are talking about the fiscal cliff, 25 days away until these tax hikes and federal spending cuts go into effect. you are looking at wall street. it is not making any big moves because of the uncertainty of what is going to happen with this. how long are politicians going to continue dragging their feet. and it is not just wall street. you know, it is beginning to eat into consumer confidence. we just got this index, university of michigan consumer confidence index. just a short time...
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. >> sean: coming up, the fiscal cliff. we have an update what remains in washington, but now even bill clinton's former chief of staff admits the president's plan won't work, and he's calling for spending cuts. i'll get reaction from rudy giuliani as we continue. remember the two deejays in australia. they speak out tonight for the first time as they explained what happened with that hoax suicide straight ahead. ford c-max hybrid. when you're carrying a lot of weight, c-max has a nice little trait, you see, c-max helps you load your freight, with its foot-activated lift gate. but that's not all you'll see, cause c-max also beats prius v, with better mpg. say hi to the all-new 47 combined mpg c-max hybrid. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. t
. >> sean: coming up, the fiscal cliff. we have an update what remains in washington, but now even bill clinton's former chief of staff admits the president's plan won't work, and he's calling for spending cuts. i'll get reaction from rudy giuliani as we continue. remember the two deejays in australia. they speak out tonight for the first time as they explained what happened with that hoax suicide straight ahead. ford c-max hybrid. when you're carrying a lot of weight, c-max has a nice...
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next hero night, speaker boehner and their presidential trade fiscal cliff proposals and phone calls. the a-team sorting it out next, the a-team sorting it out next, and the ♪ music kids will spend 15 minutes watching online videos brushing for two minutes now, can save your child from severe tooth pain later. two minutes twice a day. they have the time. lou: general electric ceo jeffrey immelt said that -- is good for china, here he is on bloomberg tv. >> but, their government works. you know they get things done, they have 5 year plans, i tell our team, read the 12-5 year plan, the segment we're in what they are doing makes since in the chinese context. lou: remind you, immelt is president of the president's job council. new governmt data suggests that a massive exodus from high tax state of california. california lost 100,000 more residents than it gained last year, more going to more business-friendly. business-friendly, states like texas. and california public employees have highest salaries in the 12 most populous state, earning on average $60,000 a year. >> major victory for
next hero night, speaker boehner and their presidential trade fiscal cliff proposals and phone calls. the a-team sorting it out next, the a-team sorting it out next, and the ♪ music kids will spend 15 minutes watching online videos brushing for two minutes now, can save your child from severe tooth pain later. two minutes twice a day. they have the time. lou: general electric ceo jeffrey immelt said that -- is good for china, here he is on bloomberg tv. >> but, their government works....
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lou: on this broadcast we never ta about the fiscal cliff without referring to the incipient cause, there rid of it all, and that is why i believe it is entirely appropriate told the president accountable for the fiscal cliff because this is the only bullish and work here. it is this president who has decided to issue an ultimatum. first on taxes and being raised on only 2 percent of the people. secondly, insisting that the debt ceiling issue be compounded with it all. this is without question an ultimatum, the consequences are his. what do you think? >> well, i am afraid that even though the consequees are his, the consequences for the economy will be his. i think he is betting, i think there is pretty good evence right now that he is betting that he can win this argument because the media and his megaphone enable him to persuade the american people that the republicans will be the cause of the troubles that we will face if we go over the cliff. lou: history is ittered with examples of those to proceeand rationally so but came up against creative, enertic opposition that und a way to pre
lou: on this broadcast we never ta about the fiscal cliff without referring to the incipient cause, there rid of it all, and that is why i believe it is entirely appropriate told the president accountable for the fiscal cliff because this is the only bullish and work here. it is this president who has decided to issue an ultimatum. first on taxes and being raised on only 2 percent of the people. secondly, insisting that the debt ceiling issue be compounded with it all. this is without question...
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if the nation heads over the fiscal cliff. >> consumer spending will go down. that means you've got less customers. businesses get fewer profits. they hire fewer workers. you go on a downward spiral. >> reporter: the president met with house speaker john boehner at the white house. their face-to-face meeting in three weeks. neither side would offer any details from the discussion, which may be a good sign of modest progress. but a spokesman for the republican leader said boehner did not back down. his offer to the white house last week is still the gop's position in the fiscal cliff talks. that plan offers a total of $2.2 trillion in deficit reduction over the next decade, including $800 billion in new tax revenue, but no increases on the top 2% of taxpayers. that's where the stalemate seems to be centered. president obama insists taxes on the wealthy must go up. >> but when they start making a million or 10 million or 20 million, you can afford to pay a little more. >> reporter: several republicans indicated that's a concession they're willing to make. >> will
if the nation heads over the fiscal cliff. >> consumer spending will go down. that means you've got less customers. businesses get fewer profits. they hire fewer workers. you go on a downward spiral. >> reporter: the president met with house speaker john boehner at the white house. their face-to-face meeting in three weeks. neither side would offer any details from the discussion, which may be a good sign of modest progress. but a spokesman for the republican leader said boehner did...
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the other thing that will happen with the fiscal cliff is the massive withdraw of government spending and we haven't talked about that as much as taxes. people with less money because of tax cuts going away would have less money to spend into the economy but also the federal government withdrawing federal spending from parts of the economy that are used to getting it, the military, et cetera but other sectors nonmilitary. that's the other piece that could hurt people. >> when we talk about the fiscal cliff and back and forth that is happening between the white house and the hill, i guess i'm confused because on one hand there is a sense that this is all par for the course, they know they're going to get a deal done, it's fine, everything is good and then there's also this sort of the pr blitz which is, we are very far from a deal. this is what ayman alluded to this, the speaker had a press conference a few minutes ago. david axelrod giving his take and john boehner giving his take. let's take a listen. >> you saying then for pr purposes -- >> the president and the speaker are very flu
the other thing that will happen with the fiscal cliff is the massive withdraw of government spending and we haven't talked about that as much as taxes. people with less money because of tax cuts going away would have less money to spend into the economy but also the federal government withdrawing federal spending from parts of the economy that are used to getting it, the military, et cetera but other sectors nonmilitary. that's the other piece that could hurt people. >> when we talk...
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then ben bernanke talked about the fiscal cliff that ended that rally, stocks coming off their highs, index, swung 102 points over second, and s&p finished where it began, nascar -- nazdaq down over 8 points, and trading on big board, busiest in the week, walmart a big mover, dropping retailer part of an overall weak group, best answer, profit taking with the sell-off walmart up, 18 -- almost 19ers in on the year, 10 year, yield rising to 1.69%, and crude market, up, joining me now, wells fargo chief economist, john silviia, 6.5% is target for fed chairman and the fed, that is the unemployment rate they want to hit, i have never heard of the fed doing this before. have you? >> no, this is -- there is a danger for fed being so specific. in a particular number, what we've seen, in the last two years, is that the unemployment rate has dropped, for whatever reason, by a 1% each year, that means 7. searc 7 we could be 6.n one year, is that is far ahead of between 15 -- the 2015 in the marketplace. lou: terrible thing about that is and would be, it would be the result of more people leaving
then ben bernanke talked about the fiscal cliff that ended that rally, stocks coming off their highs, index, swung 102 points over second, and s&p finished where it began, nascar -- nazdaq down over 8 points, and trading on big board, busiest in the week, walmart a big mover, dropping retailer part of an overall weak group, best answer, profit taking with the sell-off walmart up, 18 -- almost 19ers in on the year, 10 year, yield rising to 1.69%, and crude market, up, joining me now, wells...
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. >>> to the fiscal cliff negotiations now. it is crunch time. with just three weeks before higher taxes and spending cuts kick in, negotiations are underway, but it's not known what if any progress is being made. speaking in michigan yesterday, the president said he's willing to compromise a little, but the gop wants to know specifics. danielle nottingham has more. >> reporter: president obama's campaign to steer clear of the fiscal cliff took him to a diesel engine plant outside detroit. >> congress doesn't act soon, meaning the next few weeks, starting on january 1, everybody's going to see their income taxes go up. >> reporter: private face-to-face talks were revived this weekend when house speaker john boehner went over to the white house. neither side is releasing details about the conversation, but taxes are still the big sticking point. >> i'm not going to have a situation where the wealthiest among us including folks like me get to keep all our tax breaks. >> reporter: republicans have adamantly opposed raising taxes, but now some are co
. >>> to the fiscal cliff negotiations now. it is crunch time. with just three weeks before higher taxes and spending cuts kick in, negotiations are underway, but it's not known what if any progress is being made. speaking in michigan yesterday, the president said he's willing to compromise a little, but the gop wants to know specifics. danielle nottingham has more. >> reporter: president obama's campaign to steer clear of the fiscal cliff took him to a diesel engine plant...
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Dec 12, 2012
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this is a game of chicken, which i think is designed to go over the fiscal cliff, and pin the blame on the republicans, i understand why the president is doing it for political reasons but i don't think that the republicans have to surrender themselves in this game of chicken. lou: it seems the ultimatum, raise taxes on top 2%, why not let him eat to, it is his decision, go for it, if you don't want a mature, and intelligence, and responsible negotiation, you do not know who you are dealing with, it is called a constitutional body of government. >> it is john's right, this is politics, hard and fast, 1995 all over again, stakes are high and and president wants house back, pin the blame on the republicans make them look like right wing lunatics and grab the chips, they are in a no-win position. lou: we'll be back, marianne has to weigh in and a bunch more as we continue with the a team stay with us. ♪ ♪ [ male announcer ] they are a glowing example of what it means to be the best. and at this special time of year, they shine even brighter. come to the winter event and get the merced
this is a game of chicken, which i think is designed to go over the fiscal cliff, and pin the blame on the republicans, i understand why the president is doing it for political reasons but i don't think that the republicans have to surrender themselves in this game of chicken. lou: it seems the ultimatum, raise taxes on top 2%, why not let him eat to, it is his decision, go for it, if you don't want a mature, and intelligence, and responsible negotiation, you do not know who you are dealing...
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getting past the fiscal cliff is an imperative. we are having a one-sided conversation. the republicans have put out a plan saying raise revenue from reach people, banseed, spending cuts, and that landed with a thud over in the white house, no response, and the president has yet to put out a balanced plan, and what we got is i want $1.6 trillion in tax revenue. give it to me. gerri: and rid of the debt ceiling. >> we've seen this movie before. no ceiling, give me the revenue, i'll spend it. now what? until cuts are in place, this doesn't make sense. gerri: i want to hear what ann coulter said about the debate. >> don't cave on everything, but republicans feed into what the media is telling america -- >> wait a minute, i want to understand. you are saying then for pr purposes, they should give into obama on the tax rate. >> not exactly. well, yeah, i guess i am -- >> you're saying obama, who is -- we don't have a revenue problem, ann. >> we lost the election, sean. gerri: what do you think of this? as a strategy, maybe it's the right thing? acknowledge that the american p
getting past the fiscal cliff is an imperative. we are having a one-sided conversation. the republicans have put out a plan saying raise revenue from reach people, banseed, spending cuts, and that landed with a thud over in the white house, no response, and the president has yet to put out a balanced plan, and what we got is i want $1.6 trillion in tax revenue. give it to me. gerri: and rid of the debt ceiling. >> we've seen this movie before. no ceiling, give me the revenue, i'll spend...
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the revenue and the spending cuts. >> house members are willing to compromise to avert the fiscal cliff. what are the people at home thinking of their actions. we have a pri view for a poll that debuts tonight. part of that is compromising what folks want to see from the lawmakers. >> a lot of americans want to see compromise. according to the poll, 65% want a compromise balanced deal to reduce the deficit. even if they have to reduce the entitlement program like medicare and social security and the republicans on have to support increase in tax rates for the wealthy. of course you were playing a lot of clips from people open to compromise. it does seem to be the broad parameter that want a balanced deal. that's what john boehner and president obama are currently arguing about. par are it's interesting, mark. you and the team noted the confusion, if you want. maybe because of the leadership. the headlines and the ap has the headline fiscal cliffs appear to be stalled and the hill's headline edge towards the deal and deficit reduction negotiations. are both true? >> both are true and you
the revenue and the spending cuts. >> house members are willing to compromise to avert the fiscal cliff. what are the people at home thinking of their actions. we have a pri view for a poll that debuts tonight. part of that is compromising what folks want to see from the lawmakers. >> a lot of americans want to see compromise. according to the poll, 65% want a compromise balanced deal to reduce the deficit. even if they have to reduce the entitlement program like medicare and social...
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Dec 7, 2012
12/12
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all about taxes and not spending cuts in averting the fiscal cliff. >> the facts are at that point the 39.6% does produce the revenue. the differentiation between 39.6% and the 28% at that the president has for limitation on deduction creates a great deal of money as well. >> one conservative financial commentator suggests the likely outcome of the fiscal cliff talks won't be the end of the world. >> we will have taxes that are the same as the taxes were under bill clinton. we did find that we will do fine. >> the question is whether the negotiations will lead to making other tough choices such as washington getting a handle on the growth of government. if not, the european example seems to suggest fiscal trouble to our shores as well. >> john: thanks. the stock were mixed. dow gained 81. s&p 500 up 4. president obama visits detroit and he will see upset people there. mike tobin has the effect. >> michigan democrats say they can't stop, as the republicans have the numbers so despite the angry protests the legislation that rick schneider calls freedom to work will pass the final vote on
all about taxes and not spending cuts in averting the fiscal cliff. >> the facts are at that point the 39.6% does produce the revenue. the differentiation between 39.6% and the 28% at that the president has for limitation on deduction creates a great deal of money as well. >> one conservative financial commentator suggests the likely outcome of the fiscal cliff talks won't be the end of the world. >> we will have taxes that are the same as the taxes were under bill clinton. we...
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and that's one of the reasons that we're now in the fiscal cliff. >> baseline budgeting has been used by both parties since 1974. allows republicans to exaggerate claims of frugality. allows democrats to expand the growth of government. either way accounting trick that no family tried to balance its checkbook could ever get away with. bret? >> bret: british bank sbc has agreed to pay money to settle a money laundering case. the justice department in the u.s. says the bank cleaned funds for narcotics traffickers in mexico and allowed illegal transactions with iran, cuba, and other nations. michigan becomes a right-to-work state with some fireworks outside the state capitol. we'll talk about what's going on with the fox all-stars when we come back. begin. tomato, obviously. haha. there's more than that though, there's a kick to it. wahlalalalallala! smooth, but crisp. it's kind of like drinking a food that's a drink, or a drink that's a food, woooooh! [ male announcer ] taste it and describe the indescribable. could've had a v8. >> no matter what happens, they cannot define us. >> what
and that's one of the reasons that we're now in the fiscal cliff. >> baseline budgeting has been used by both parties since 1974. allows republicans to exaggerate claims of frugality. allows democrats to expand the growth of government. either way accounting trick that no family tried to balance its checkbook could ever get away with. bret? >> bret: british bank sbc has agreed to pay money to settle a money laundering case. the justice department in the u.s. says the bank cleaned...
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Dec 8, 2012
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known as the fiscal cliff. despite a call between president obama and john boehner, the two sides appear to be no closer to a compromise. are republicans working on the scenes on a plan b? wall street journal columnist, dan henninger and kim strassel. you have bean working the phones, is there something going on between speaker boehner and the president? >> no, i think that they are nowhere and it's because the president is refusing to budge at all on the top toks ratestopx rates and we'll go off the cliff if the republicans don't acreed to that demand. so we're still at a stand still. >> paul: kim, why is the president so insistent on increasing tax rates? boehner has already put on the table a comparable amount of money to be gained from putting a cap on deductions, about 800 billion over ten years, so such a-- >> look, paul, two reasons. first is ideological. his partisans, his liberal base believe this is somehow a symbol of winning the tax fight and you can only do that by raising the rates on the wealthy
known as the fiscal cliff. despite a call between president obama and john boehner, the two sides appear to be no closer to a compromise. are republicans working on the scenes on a plan b? wall street journal columnist, dan henninger and kim strassel. you have bean working the phones, is there something going on between speaker boehner and the president? >> no, i think that they are nowhere and it's because the president is refusing to budge at all on the top toks ratestopx rates and...
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. >>> we have another developing story with the ongoing negotiations of the fiscal cliff. despite spine signs of a deal in sight, house speaker boehner accused the president of holding back when it comes to spending cuts. >> the longer white house slow walk this is process, the closer our economy gets to the fiscal cliff. we know that the president wants more stimulus spending and increase in the debt limit without any cuts or reforms. that's not fixing our problem. frankly, it's making it worse. >> let me bring in our "news nation" political panel this hour. chris cafinus, michael smerkonish and louies romanis. what are we to make of speaker boehner coming out today, not sure of the overall message other than he wanted to have, i guess, a sound bite to play today as we continue to talk and the president is off at least negotiating behind the scenes on the fiscal cliff. >> i think you called it, tamron. look, the rhetoric is scaled back dramatically in the last few days. they're talking and seriously evidenced by the fact we're not learning that much. they're keeping it pr
. >>> we have another developing story with the ongoing negotiations of the fiscal cliff. despite spine signs of a deal in sight, house speaker boehner accused the president of holding back when it comes to spending cuts. >> the longer white house slow walk this is process, the closer our economy gets to the fiscal cliff. we know that the president wants more stimulus spending and increase in the debt limit without any cuts or reforms. that's not fixing our problem. frankly, it's...
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twenty-six days until we fall off the fiscal cliff. is that what democrats want us to do? pictures seem so. we go live to capitol hill in 10 minutes. while ngress talked about wanting to cut excess spending, the nbers may tell a different story. i will break it down coming up next. you stl think you're colder than me? nah. don tell me. tell tiny! [ ice crackling ] [ knuckles cracking ] and who are you supposed to be, back-up? handle it. what you looking at? ha! cat-like reflexes... whoa! [ male announcer ] the coors light silver bullet pint. it's bigger. it's resealable. it's still the coldest. don't you do it. don't you do it! [ male announcer ] frost brewed coors light. gerri: where would we be without senator tom coburn? without the oklahoma taxpayer dollars? this fellow brought us this image. your member this? the shrimp on on the treadmill. does anyone have? @%e national science foundation studying the effects on disease. they decided to do this, and they spend 500,000 taxpayer dollars doing this study. if you can get scieists to ste money, the senator is back with an
twenty-six days until we fall off the fiscal cliff. is that what democrats want us to do? pictures seem so. we go live to capitol hill in 10 minutes. while ngress talked about wanting to cut excess spending, the nbers may tell a different story. i will break it down coming up next. you stl think you're colder than me? nah. don tell me. tell tiny! [ ice crackling ] [ knuckles cracking ] and who are you supposed to be, back-up? handle it. what you looking at? ha! cat-like reflexes... whoa! [ male...
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if it appears likely we're going to go over the fiscal cliff and not meet the december 31nd deadline. me? i think that is a great development. finally cut some government waste and spending. oh, my goodness. meanwhile a black box data recorder revealed former new jersey governor jon corzine was doing 91 miles per hour in a 65 mile zone and he didn't have his seat belt on. and all that was contrary to what he first told us. why should all cars have the same kind of black box to settle lawsuits and find out who is lying? first up president obama heads to detroit monday. that's his first visit there in nearly months. this is mayor wing has just announced hundreds of layoffs in an effort to stave off the possible bankruptcy. but i don't think it's nearly enough. let's find out. joining me is detroit radio host doc thompson, wxyt talk radio. okay, doc, as i understand it you tell me if i'm wrong. about 11,000 detroit city workers and mayor bing is cutting 4 to 500. i'm not impressed with that. i think he should be cutting 20% of the workforce, not 5%. >> no, you're absolutely right, larry
if it appears likely we're going to go over the fiscal cliff and not meet the december 31nd deadline. me? i think that is a great development. finally cut some government waste and spending. oh, my goodness. meanwhile a black box data recorder revealed former new jersey governor jon corzine was doing 91 miles per hour in a 65 mile zone and he didn't have his seat belt on. and all that was contrary to what he first told us. why should all cars have the same kind of black box to settle lawsuits...
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twenty-six days until we fall off the fiscal cliff. is that what democrats want us to do? pictures seem so. we go live to capitol hill in 10 minutes. while congress talked about wanting to cut excess spending, the numbers may tell a different story. i will break it down coming up next. ally bank. why they have a raise your rate cd tonight our guest, thomas sargent. nobel laureate in econocs, and one of the most cited economists in the world. professor sargent, can you tell me what cd rates will be in two years? no. if he can't, no one can. that's why ally has a raise ur rate cd. ally bank. your money needs an ally. gerri: where would we be without senator tom coburn? without the oklahoma taxpayer dollars? this fellow brought us this image. your member this? the shrimp on on the treadmill. does anyone have? @%e national science foundation studying the effects on disease. they decided to do this, and they spend 500,000 taxpayer dollars doing this study. if you can get scientists to waste money, the senator is back with another study. this time uncovering waste of the departm
twenty-six days until we fall off the fiscal cliff. is that what democrats want us to do? pictures seem so. we go live to capitol hill in 10 minutes. while congress talked about wanting to cut excess spending, the numbers may tell a different story. i will break it down coming up next. ally bank. why they have a raise your rate cd tonight our guest, thomas sargent. nobel laureate in econocs, and one of the most cited economists in the world. professor sargent, can you tell me what cd rates will...
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Dec 13, 2012
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the fiscal cliff is about the miasma of spending that we've had under barack obama, $6 billion added to the debt in one term. now we've got a regulatory cliff that is what we're doing with all that new spending which a highly intrusive government that wants to regulate every aspect of our lives. so we've got the epa that is doing this when it comes to water. when it comes to air, we've got the cleanest air in 30 yearsing according to the epa. they have got six new regulations in the coming year that are going to cost -- 1 38 billion in compliance costs to business, and billions more in higher energy bills. you've got the transportation department which is planning a whole host of new regulations that are going to raise the cost of cars and trucks. they want to force everybody to have a rear-facing camera inside their dashboard. so an american family that's struggling to make ends meet has to buy a rear-facing camera because the federal government says so. you've got all the regulations coming under obamacare and all the rest. we are going -- the fiscal cliff is a slow decline compare
the fiscal cliff is about the miasma of spending that we've had under barack obama, $6 billion added to the debt in one term. now we've got a regulatory cliff that is what we're doing with all that new spending which a highly intrusive government that wants to regulate every aspect of our lives. so we've got the epa that is doing this when it comes to water. when it comes to air, we've got the cleanest air in 30 yearsing according to the epa. they have got six new regulations in the coming year...